Lundin says S. Sumatra gas field to start flowing mid-2009
Tuesday, January 20 2009 - 02:47 PM WIB
Swedish independent EP firm Lundin Petroleum reported on Tuesday that development of the Singa gas field in Lematang PSC onshore South Sumatra is well advanced with first gas expected mid-year 2009.
Gas production will build up to a plateau rate of 48 MMCFD, the company said.
The block?s operator PT.Medco Energi Internasional has signed 9-year deal to sell 130 BCF of Singa gas to state electricity firm PLN at average price of $3.22 per MMBTU.
Medco has 74 percent interest in the block, with the remaining balance held by Lundin.(alex)